On Capitol Hill, budget vs. budget

By Erik Wasson – House Republicans and Senate Democrats unveiled clashing budgets Tuesday that highlight the ideological chasm between the two parties on taxes, spending and the size of government.

The plan from Rep. Paul Ryan (R-Wis.), chairman of the House Budget Committee, would slice spending by $5.7 trillion, cut the top tax rate to 25 percent and balance the budget in 10 years.

Its Democratic counterpart, from Senate Budget Committee Chairwoman Patty Murray (Wash.), raises nearly $1 trillion in new taxes, adds new stimulus spending and does not project any date at which balance will be reached. more> http://tinyurl.com/a9je6wd